Nord Stream AG is an international joint venture established for the planning, construction and subsequent operation of two offshore gas pipelines through the Baltic Sea. Nord Stream consists of two 1,224 kilometre pipelines, directly linking the European Union to some of the world’s largest gas reserves in Russia. In the last quarter of 2011, gas transport will begin. Full transport capacity of 55 billion cubic metres a year will be reached when the second pipeline goes on stream in 2012. This is enough gas to supply more than 26 million European households.